Rivian Stock Jumps 17%

Shares of Rivian Automotive surged by 17.4% on Monday following their impressive quarterly deliveries, surpassing Wall Street expectations. Rivian reported 12,640 vehicle deliveries in the second quarter, a 59% increase from the previous quarter, exceeding analyst estimates. The company also reiterated its annual production target of 50,000 units. The news propelled Rivian's stock into positive territory for the first time since February, with a year-to-date increase of about 5%.